Almirall: lifts outlook as first-half sales jump
(CercleFinance.com) - Spanish biopharmaceutical company Almirall raised its outlook for 2019 as it reported a 57% jump in first-half profit, driven by sales of its best-in-class acne drug.
The drugmaker - which is now specialised in dermatology - said on Monday that expects its operating profit (Ebitda) to grow to 300-310 million euros this year, compared with a previous forecast range of 290-300 million euros.
In the six months to 30 June, Ebitda rose to 166.2 million euros, from 105.5 million euros a year earlier, Almirall said.
Sales rose by 17% to 430.3 million euros, as its acne product Seysara has become the leading branded product in the US acne market.
The performances of psoriasis drugs Skilarence and Ilumetri also boosted performance in Europe, the group said.
Almirall shares, which have risen by around 34% since the start of 2019, are currently down 2.1% in Madrid.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The drugmaker - which is now specialised in dermatology - said on Monday that expects its operating profit (Ebitda) to grow to 300-310 million euros this year, compared with a previous forecast range of 290-300 million euros.
In the six months to 30 June, Ebitda rose to 166.2 million euros, from 105.5 million euros a year earlier, Almirall said.
Sales rose by 17% to 430.3 million euros, as its acne product Seysara has become the leading branded product in the US acne market.
The performances of psoriasis drugs Skilarence and Ilumetri also boosted performance in Europe, the group said.
Almirall shares, which have risen by around 34% since the start of 2019, are currently down 2.1% in Madrid.
Copyright (c) 2019 CercleFinance.com. All rights reserved.